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Can you tell us the exact date your card was opened? It should be listed as Date Opened on your credit report.
If it was opened on March 31 or before, you should in theory have a true FICO score by now. If it was opened April 1 or later then you would have to wait another month.
You say that you have "good credit" and you talk about your credit score. Does this mean you are getting your score from some place? If so, where? You want to make sure that you are looking at actual FICO scores, rathen than (say) Vantage scores.
Can you tell us what the credit limit is on your card amd what the balance was on the last statement? You want you balance to be be at least $5 but less than 9% of your credit limit. So for example if your credit limit was $300 then you'd want your balance to be between $5 and $26.
@Anonymous wrote:
I've had my credit card for 5 months now. I'm wanting to upgrade to a more reliable vehicle. My dad is willing to consign but he wants me to see if I can get a loan by myself first. My first question is do you think I will be approved for much of a loan with only 5 months of credit history? I have good credit. My second question is will it affect my credit score if I apply for a loan by myself first or should I apply for a joint loan right off the bat.
1. Yes I think you will be approved for such a loan. The only question is whether the terms will be satisfactory.
2. Yes it will affect your credit score, probably negatively. But as you pay it down your scores will improve.
@Anonymous wrote:
I've had my credit card for 5 months now. I'm wanting to upgrade to a more reliable vehicle. My dad is willing to consign but he wants me to see if I can get a loan by myself first. My first question is do you think I will be approved for much of a loan with only 5 months of credit history? I have good credit. My second question is will it affect my credit score if I apply for a loan by myself first or should I apply for a joint loan right off the bat.
Listen to your Dad. Try for the auto loan on your own. His co-signing makes him responsible if, for some or whatever reason, you might default. Not saying you will, but this is something to be aware of.
What do you define as "good credit"? What are your auto-specific scores?
Yes. 2 ways. The inquir(ies/y) will have an effect, and if approved the new tradeline will have an effect. It will be negative and then positive as the TL grows.